Count: 24, with 21 other layoffs in other departments the week of June 23. So 45 totalt that week.
16 replies (most recent on top)
@2ps VF
Which VP?
This is kind of scary for current employees.
Post-layoff turnover is starting. People are reading the writing on the wall and getting out. VP quit today.
@j8 IPS. One day we will meet and I will buy you a beer. (My guess is we know each other already.)
"Heard rumors that MH is considering selling"
MH doesn't own Cengage, lol. He's just the CEO.
Apollo? They could sell. But to who? Hard to imagine anyone wanting to pay much for this organization - as a whole, at least.
@dv Dude, you have to stop with "ask GPT" - we know you can't think for yourself, but seriously... Very happy you are at least using a digital brain if the human one doesn't work. Good boy!
@dj Really? You can't understand what that means? Wow, it's no wonder you spend all your time on this site. Let's give it a school boy try and see what this tells you... Replacing people. hmmm...
@ay Cengage is not an old-school publishing business. It is an exciting ed-tech concern that rides on the bleeding edge of technology.
Cengage is a mission-driven company that is disrupting existing norms worldwide and transforming the way students learn.
To compare Cengage to an old-school publishing company is ret**ded.
Full Stop!
Is Infosec done now?
edit: So were the yellow pages.
Downvote me all you want but you may want to take a few minutes and ask GPT some questions. It is what it is. No judgement here. Was once an awesome business. But somewhere the yellow pages.
I really don’t understand why Cengage would let those people go and immediately rehire for similar positions like Tech Lead and Principal Product Manager. Seems like the opposite of saving money.
I think MH has hit the end of the proverbial hamster wheel. The business is what it is. It's a legacy, old-school publishing business, wearing lipstick, in an environment with declining enrollments and divisions that are being hammered by cuts in government spending.
There are no potential acquisitions that will goose earnings. Sure, there are some small publishers, but they don't move the needle, and why would someone of any conscience sell to a company that will destroy what they've spent years building? (See Infosec.)
According to Chat GPT: Higher education enrollments:
- Peaked in 2020 (~19M students), then fell sharply through 2021–2022.
- Dropped to around 15.07M undergrads in Fall 2022, before rebounding to about 15.96M in Fall 2024
GPT also predicts that enrollments will fall by another 15% over the next 4 years.
I have to give him credit. He's tried pretty much everything. I'm the last thing from an MH fan, but I don't think Warren Buffett himself could have done any better...except Buffett would have never bought a company like Thomson Learning at the time APAX made the purchase.
Yeah I had to take a look after it was announced this morning that J.C.'s position was rescoped. Surprised it was that many, depressing.
How many people are left at Cengage?
Heard rumors that MH is considering selling